Bankruptcy costs vary throughout the country. In Virginia, the cost of your bankruptcy could depend on various factors, such as which attorney you select to handle your case, the complexity of your situation and the type of bankruptcy you need. Chapter 7 is usually cheaper, whereas Chapter 13 is often more expensive. Per Debt.org, average filings cost between $1,500 and $4,000.
Many residents of Virginia have found themselves struggling with their finances, and many people who have done so have ultimately found relief through filing for bankruptcy. At Ferriswinder, PLLC, we recognize that, while filing for bankruptcy can be a great way to find your way back to financial freedom, doing so can also hurt your credit, at least in the short-term.
If you count yourself among the many residents of Virginia who are currently grappling with increasing debt, you may be spending your days avoiding answering your phone or otherwise dodging creditors. Having creditors continuously come after you in their attempts to collect on their debts can prove extremely stressful, but you may be able to put a stop to these excessive communications by initiating the bankruptcy process.
If you are experiencing substantial financial problems in Virginia and are considering bankruptcy as your only way out, you undoubtedly have a lot of questions. You particularly likely want to know how Chapter 7 and Chapter 13 are different from each other and which one is best for you.
If you are facing the unsettling reality that you are in serious debt and are considering bankruptcy, one of the first steps you should take is to identify which behaviors related to money management ultimately led you to this position. With a family to care for in Virginia, another concern of yours may be how to teach your children effective practices for managing their own money so you can help them avoid being in your position in their future.
Personal debt is something that nearly everyone in Virginia will experience at one point or another. Significant purchases such as a vehicle or home are especially popular reasons for your needing to seek a loan. At Ferriswinder PLLC Attorneys at Law, we have helped many families navigate the complexities of debt and bankruptcy.
The stigma that is tied to bankruptcy often makes the decision to file seem bleak and hopeless. In fact, many people in Virginia falsely believe that once they file for bankruptcy, it is impossible to recover and put that financial woe behind them. In reality, while bankruptcy can undoubtedly create some difficulties for a person's financial situation, it does not have to cause permanent damage if it is managed correctly.
When you have been struggling financially for some time, the thought of filing for bankruptcy in Virginia crosses your mind. You may be reluctant to do so because you are afraid of the lifelong ramifications of such a decision. However, you should know that filing for bankruptcy may actually help you restore your emotional and financial well-being and get you on the path to success.
If you have had to file for bankruptcy in Virginia, chances are you may be feeling a bit stressed and unsure of how you will recover and achieve a reliable financial foundation. Having to file for bankruptcy, while providing some relief from pressing debt, can also wreak havoc on your credit score and your ability to secure lending in the future. Fortunately, with a commitment to learning from your past, you can expedite your recovery and regain your footing.
Bankruptcy, while a solution if you are experiencing dire financial troubles, can have lasting consequences that take time to recover from. However, with vigilance and a resolve to not repeat past mistakes, you can overcome the effects of bankruptcy and improve the quality of your financial structure. At Ferriswinder PLLC Attorneys at Law, we are committed to educating the people of Virginia about how bankruptcy works.